A bill designed to give cities and towns additional tools to address blight is on its way to Governor Eric Holcomb’s desk. Denny Zent’s (R-51) proposal aims to make it easier for redevelopment commissions to purchase unsafe, abandoned and foreclosed properties.
Zent says there is currently a lengthy process for development commissions to purchase those properties, which he says "lower surrounding home values, (and) can lead to crime and illegal activities." He says streamlining the process will make communities safer and expand their tax base.
Under the current system, Zent says redevelopment commissions are all but locked out of the auction process because of a current policy requiring two independent appraisals before purchasing properties. SB 152 would remove that requirement, which would allow commissions to buy those properties at auction.